Replies to post #203 on Ignite Restaurant Group Inc (fka IRGTQ)

[SPORTYNORTY]

INCORRECT.

CHEMTURA back in the day went BK and now trades over $10. They were only $132 million in debt, not $200 million. Read the filing. That debt was wiped out. Rumor is that Tillman may still have some preferred shares, convertible into common, so he might have an interest in preserving the commons.

Regardless, there is a LARGE short position which must be covered, likely before the awarding of the stalking horse on Tuesday to Fertitta, due to the fact that he is an X factor and his personal connection to the company.

Marcus Lemons took a BK company from .02 to .75 in 2 days. That company had approximately 4-tX this float.

MUCH HIGHER LEVELS COMING HERE

[Homebrew]

Yup, commons are last in line and will be told "NO $ for you !" (Soup nazi voice).


"...Common shareholders get nothing...in almost all BK cases.

Since the debt here is about $200 million, all of the creditors would have to be paid off first, before common shareholders would get anything... ..."